S. Africa crisis poses problem for El
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SOUTH AFRICA'S ci poses a big problem for . but the company would vive even a complete coil of its market there, the Ii: chairman Peter Foden CM this week.
The country is ERF's gest market outside Briand accounts for rough]) per cent of group bush ERF builds up buses and ries there using kits shij out from the Sun Work Sandbach, and after 40 trading in South Africa developed an important business there.
Financial moves last w end partly aimed at dis. raging the withdrawa investment stabilised situation in the medium ti "At least we know wl happening," he said.
"It's not a question pulling out. We are nivel we are locked in. We cai say 'South Africa is a word, let's all pull out'."
Many Sandbach wor. have gone out to work ERF in South Africa, he ! "We arc not going to puj plug on them. We rr support our own people, protect our shareholders."
In 12 months time the nomic problems might 1N solved, and the market W. boom. South Africa is a important market ecc 7-Mc:ally and strategically, relies on imports of h., lorries.
Foden added: "The los South Africa wouldn't pi, out of business by means." While it has be useful profit earner in rc years, last year's contribt was "disastrous", with million being wiped oni exchange rates.
ERF is looking at (overseas markets, particu the Middle and Far East, den said.
In the home market, ot have fallen off after a first quarter, although are expected to pick up a this autumn.
Model changes wil brought in next year w should further increase sal